Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Ex-post-facto approval by the competent authority regularized prior failure to obtain prior RBI approval for the share transfer, nullifying contraventions under the FEMA transfer/issue regulations as against the two appellants - penalties imposed on those appellants are set aside. Separately, on the distinct issue of alleged contravention of Section 3(c) of FEMA, the appellant failed to establish lawful source of funds; the ex-post-facto approval did not relieve compliance with other FEMA conditions, therefore the penalty for the Section 3(c) breach is sustained against that appellant. The pre-deposit previously directed shall be adjusted against the upheld penalty. - AT
Ex-post-facto approval by the competent authority regularized prior failure to obtain prior RBI approval for the share transfer, nullifying contraventions under the FEMA transfer/issue regulations as against the two appellants - penalties imposed on those appellants are set aside. Separately, on the distinct issue of alleged contravention of Section 3(c) of FEMA, the appellant failed to establish lawful source of funds; the ex-post-facto approval did not relieve compliance with other FEMA conditions, therefore the penalty for the Section 3(c) breach is sustained against that appellant. The pre-deposit previously directed shall be adjusted against the upheld penalty. - AT
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TaxTMI 
TaxTMI 
